2024-05-21 20:22:02 by CoinGape

Former President Donald Trump’s presidential campaign has started accepting cryptocurrency donations, embracing Bitcoin, Ether, and other digital currencies. This decision follows his recent declaration as the crypto candidate at a Mar-a-Lago gala. The move positions Trump as the first major party candidate to welcome crypto contributions.Donald Trump Campaign Embraces Crypto Donations for 2024Trump’s campaign announced plans to “build a crypto army” to counter the “anti-crypto army” led by Senator Elizabeth Warren. While Trump has not yet outlined specific crypto policies, his supporters view this stance as a positive shift. This move marks a significant departure from the Biden administration’s anti-crypto position. By accepting crypto donations, Trump aims to harness the growing influence of digital currencies in the 2024 campaign.Supporters believe this decision could attract a substantial portion of the crypto community, which has felt sidelined by current policies. Trump’s embrace of cryptocurrency is seen as a good move to gain support and differentiate himself from his political opponents. The Trump Campaign will accept Bitcoin, Shiba Inu, Dogecoin, Ethereum Ether, USD Stablecoin, Solana SOL, and Ripple XRP for donations. This wide range of accepted cryptocurrencies demonstrates Trump’s commitment to the digital asset space. Supporters can complete the requirements on Trump’s website and are then directed to a Coinbase Commerce page. This includes options for MetaMask and Coinbase Wallet, among other self-custodial wallets.Trump’s involvement in digital assets has been growing, starting with the launch of Trump Trading Cards, Polygon-based NFTs, in late 2022. It was a Mar-a-Lago event for these NFT holders, who spent thousands of dollars to participate, that ultimately sparked Trump’s recent pro-crypto comments.Political Pressure Rises on Crypto Skeptics Trump’s vocalized support for crypto could also influence the digital asset market in other ways. Analysts have noted political pressure at the U.S. Securities and Exchange Commission, leading to increased approval odds for spot Ethereum ETFs this month. Meanwhile, a Doland Tremp, a Solana-based meme coin inspired by the former president, has extended weekly gains. As crypto has come to the political forefront in America, the token surged 150% over the past week to $1.30, according to CoinGecko.As Trump’s crypto push materializes, a politically connected crypto executive suggested that crypto skeptics on Capitol Hill, such as Elizabeth Warren, would feel the pressure. Trump’s stance is seen as a counter to the current administration’s policies, potentially reshaping the political landscape for digital assets. Also Read: Spot Ethereum ETF: When Is Launch Timeline If SEC Gives Approval? Maxwell Mutuma Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.